Voss Capital, Lp Sells 11,311 Shares of Alta Equipment Group Inc. (NYSE:ALTG) Stock

Alta Equipment Group Inc. (NYSE:ALTG) major shareholder Voss Capital, Lp sold 11,311 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $6.31, for a total value of $71,372.41. Following the completion of the transaction, the insider now owns 963,689 shares of the company’s stock, valued at $6,080,877.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Alta Equipment Group Trading Up 1.5 %

NYSE:ALTG traded up $0.10 on Friday, reaching $6.60. 283,873 shares of the stock traded hands, compared to its average volume of 353,652. The company has a current ratio of 1.37, a quick ratio of 0.47 and a debt-to-equity ratio of 5.81. Alta Equipment Group Inc. has a 1-year low of $5.40 and a 1-year high of $13.67. The company’s 50 day moving average is $6.38 and its 200-day moving average is $8.17. The firm has a market capitalization of $218.39 million, a price-to-earnings ratio of -10.47 and a beta of 1.67.

Alta Equipment Group (NYSE:ALTG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.34). Alta Equipment Group had a negative net margin of 0.95% and a negative return on equity of 13.09%. The firm had revenue of $488.10 million during the quarter, compared to the consensus estimate of $497.57 million. During the same period in the prior year, the company posted $0.16 earnings per share. Equities research analysts anticipate that Alta Equipment Group Inc. will post -1.08 EPS for the current fiscal year.

Institutional Trading of Alta Equipment Group

A number of institutional investors have recently bought and sold shares of the company. Nantahala Capital Management LLC lifted its stake in Alta Equipment Group by 108.2% in the second quarter. Nantahala Capital Management LLC now owns 838,222 shares of the company’s stock valued at $6,739,000 after buying an additional 435,713 shares during the period. American Century Companies Inc. lifted its position in shares of Alta Equipment Group by 460.1% during the 2nd quarter. American Century Companies Inc. now owns 211,585 shares of the company’s stock valued at $1,701,000 after acquiring an additional 173,810 shares during the period. Register Financial Advisors LLC boosted its stake in Alta Equipment Group by 44.3% during the second quarter. Register Financial Advisors LLC now owns 335,702 shares of the company’s stock worth $2,699,000 after acquiring an additional 103,071 shares in the last quarter. Ancora Advisors LLC grew its holdings in Alta Equipment Group by 64.1% in the first quarter. Ancora Advisors LLC now owns 262,919 shares of the company’s stock worth $3,405,000 after purchasing an additional 102,660 shares during the period. Finally, JCP Investment Management LLC acquired a new stake in Alta Equipment Group in the second quarter worth $721,000. Institutional investors own 73.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Raymond James reiterated a “market perform” rating and set a $10.00 price target (down previously from $14.00) on shares of Alta Equipment Group in a report on Friday, August 9th. DA Davidson cut their target price on Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th.

About Alta Equipment Group

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates through three segments: Material Handling, Construction Equipment, and Master Distribution. The company operates a branch network that sells, rents, and provides parts and service support for various categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, and other construction equipment and related products.